Independent Bank Corp /Mi/ Income Statement

1Y3Y5Y7Y10YAll
Download Data
Income Statement Dec2009 Dec2010 Dec2011 Dec2012 Dec2013 Dec2014 Dec2015 Dec2016 Dec2017 Dec2018 Dec2019 Dec2020 Dec2021 Dec2022 Dec2023 Dec2024
Revenue & Cost
Provisions 103.32M46.77M27.95M6.89M-3.99M-3.14M-2.71M-1.31M1.20M1.50M0.82M12.46M-1.93M5.34M6.21M5.62M
Revenue 85.74M183.47M141.48M149.82M122.79M112.03M115.12M121.94M131.72M158.10M170.32M204.36M206.41M211.47M207.00M222.61M
Interest income
Interest income - Loans 177.95M142.28M110.57M93.78M80.66M71.82M70.93M74.16M84.28M116.86M133.88M123.16M116.64M139.06M197.72M228.59M
Interest income - Investments 0.11M0.19M0.28M
Interest Income - Debt Securities 9.42M9.28M8.59M6.73M6.86M6.83M7.80M9.92M10.93M10.87M11.84M12.65M14.49M29.07M36.52M31.98M
Other interest income 1.11M1.58M1.55M1.64M1.30M1.40M1.20M1.20M1.10M1.29M1.86M1.09M0.85M0.88M5.43M6.21M
Interest Income - Total 189.06M148.85M114.76M99.40M87.12M80.56M80.84M86.52M98.31M130.77M148.93M139.83M138.08M169.01M239.68M266.78M
Interest expenses
Interest Expense - Deposits 35.41M28.16M15.26M8.91M5.71M4.97M4.01M4.94M6.78M14.48M23.43M12.67M4.46M14.15M75.08M92.69M
Interest Expense - Debt 15.13M9.03M4.94M4.23M3.46M2.33M1.85M1.94M2.35M3.01M2.92M3.55M3.85M5.30M8.27M7.83M
Interest Expense - Fed Funds 1.40M0.10M0.10M0.08M0.01M
Interest Expenses 37.20M20.19M13.14M9.16M7.30M5.86M6.88M9.12M17.49M26.35M16.22M8.31M19.45M83.35M100.53M
Interest Income - Net 138.52M111.65M94.57M86.25M77.96M73.26M74.99M79.64M89.19M113.28M122.58M123.61M129.76M149.56M156.33M166.25M
Non-interest income
Interest Income - Total 35.20M64.89M66.62M79.37M81.95M76.39M77.70M80.95M87.99M111.78M121.76M111.15M131.69M144.22M150.12M161.78M
Financial Services Fees 2.27M2.04M-2.01M1.96M3.81M0.99M1.75M2.22M1.65M
Service Charges 24.37M21.51M18.31M17.89M14.08M13.45M12.39M12.41M12.67M12.26M11.21M8.52M10.17M12.29M12.36M11.87M
Investment Gain (Loss) 0.20M1.19M0.01M0.33M0.07M0.30M0.21M
Investment Banking Income 10.86M12.33M9.26M17.32M10.02M5.63M7.45M10.57M11.76M10.60M19.98M62.56M35.88M6.43M7.44M6.58M
Mortgage Banking 4.20M4.40M4.40M4.30M4.20M4.10M4.10M4.40M5.50M6.20M6.90M7.90M8.60M8.80M8.90M
Card Income 7.06M8.26M9.09M9.19M7.36M8.16M8.48M7.94M8.02M9.90M10.30M11.23M14.04M13.96M14.00M13.99M
Trading Income -0.02M0.04M0.03M0.39M-0.30M-0.06M0.26M0.05M-0.06M0.17M0.27M1.41M-0.28M-0.22M-0.43M
Other Non-Interest Income 9.24M64.18M41.72M27.41M16.23M10.62M8.85M8.60M8.17M8.76M9.28M7.52M9.39M10.74M12.48M12.22M
Non-Interest Income 53.80M71.81M46.91M63.56M44.83M38.77M40.13M42.30M42.53M44.81M47.74M80.75M76.64M61.91M50.68M56.36M
Operating Items
Amortization - Intangibles 1.93M1.22M1.04M1.10M0.99M0.91M1.25M2.00M1.74M1.34M2.93M6.10M8.39M13.21M13.10M
Depreciation & Amortization - Total 6.54M5.17M4.63M4.29M4.14M3.89M3.91M3.87M4.08M4.11M4.09M4.17M4.01M3.76M3.76M
Wages, Salaries and Other 51.71M50.48M53.98M47.92M47.22M48.19M49.58M55.09M62.08M67.50M74.78M79.97M81.01M78.97M84.95M
Rent Expense 11.02M11.18M10.10M8.85M8.91M8.37M8.02M8.10M8.91M9.01M8.94M8.79M8.91M7.91M7.81M
Restructuring Costs 2.30M0.28M3.46M
Other Operating Expenses 137.44M117.60M102.00M90.98M76.90M76.19M76.11M79.83M91.00M98.61M109.39M118.06M115.43M115.45M123.53M
Operating Expenses 155.00M133.95M116.73M104.12M89.95M88.45M90.35M92.08M107.46M111.73M122.41M131.02M128.34M127.12M135.10M
Operating Income -6.41M-7.14M9.17M7.93M8.83M10.28M11.52M13.45M10.32M12.13M14.59M16.24M
EBIT -6.41M-7.14M9.17M7.93M8.83M10.28M11.52M13.45M10.32M12.13M14.59M16.24M97.23M157.02M183.57M
Non-operating items
Non Operating Investment Income 1.64M0.25M1.23M0.40M0.33M0.02M0.56M0.26M0.14M0.31M0.27M1.41M-0.28M-0.22M-0.43M
Other Non Operating Income 18.07M0.50M
Net income details
EBT -18.30M-20.41M26.20M22.66M25.22M29.38M32.90M38.44M49.13M57.76M69.48M77.31M77.79M73.68M83.05M
Tax Provisions -1.59M0.70M-54.85M7.20M9.36M10.13M17.96M9.29M11.32M13.33M14.42M14.44M14.61M16.26M
Profit After Tax -16.71M-20.20M26.20M77.51M18.02M20.02M22.77M20.48M39.84M46.44M56.15M62.90M63.35M59.07M66.79M
Equity Income -28.53M-17.71M29.88M72.42M18.73M20.95M18.69M8.05M8.28M19.48M34.70M2.70M
Income from Continuing Operations -16.71M-21.11M26.20M77.51M18.02M20.02M22.77M20.48M39.84M46.44M56.15M62.90M63.35M59.07M66.79M
Consolidated Net Income -16.71M-21.11M26.20M77.51M18.02M20.02M22.77M20.48M39.84M46.44M56.15M62.90M63.35M59.07M66.79M
Income towards Parent Company -16.71M-21.11M26.20M77.51M18.02M20.02M22.77M20.48M39.84M46.44M56.15M62.90M63.35M59.07M66.79M
Preferred Dividend Payments 4.09M-4.16M4.35M3.00M
Net Income towards Common Stockholders -20.80M-24.36M26.20M82.06M18.02M20.02M22.77M20.48M39.84M46.44M56.15M62.90M63.35M59.07M66.79M
Additional items
EPS (Basic) -4.09-2.942.515.870.790.881.060.961.702.032.562.913.002.823.20
EPS (Weighted Average and Diluted) -4.09-2.940.803.550.770.861.050.951.682.002.532.882.972.793.16
Shares Outstanding (Weighted Average) 7.52M8.48M8.91M22.81M22.95M22.30M21.25M21.33M24.11M22.48M21.88M21.28M
Tax Rate 8.69%28.53%31.87%30.80%46.73%18.92%19.61%19.18%18.65%18.56%19.83%19.57%